“It’s still too early for us to examine whether to adjust the growth target,” said MoIT Deputy Minister Nguyen Sinh Nhat Tan at a press briefing in Hanoi on April 4.

Vietnam earned US$405.53 billion from exports in 2024, increasing by 14.3% compared to the previous year. Based on the sound performance, the MoIT has set an export growth target of approximately 12% for 2025 (US$450 billion), expecting the recovery in major markets such as the United States and the European Union, particularly in sectors like electronics, consumer goods, and textiles.

Tan said MoIT Minister Nguyen Hong Dien had sent an official diplomatic note to the United States regarding the tariff measures imposed on Vietnamese goods. At the same time, the MoIT has coordinated with diplomatic channels and various other channels to arrange a phone call between the MoIT Minister and the United States Trade Representative (USTR), in an attempt to mitigate the impact of the new tariff measures on Vietnamese exports.

Both sides had extensive discussions in March 2025 and will continue to hold further talks during the coming phone call, said the trade official.

He also revealed that a Vietnamese delegation led by Deputy Prime Minister Ho Duc Phoc will travel to the United States next week to negotiate the 46% tariff. The delegation will include representatives from various ministries, sectors, and businesses.

According to Tan, government leaders chaired a meeting on April 4 afternoon to hear proposals and solutions from import-export businesses.

Tan suggested that Vietnamese enterprises not only review their own business operations but also engage in discussions with international partners to explore solutions. He said, while there are be short-term challenges and difficulties, businesses may still achieve sustainable growth in the long run.

At the press briefing, representatives from the Trade Promotion Agency and the Department of Foreign Market Development under the MoIT outlined long-term solutions for trade promotion and market diversification.

Ta Hoang Linh, director general of the Department of Foreign Market Development, affirmed that market diversification has been a priority set by the MoIT for years, contributing to remarkable export growth.

“For businesses that meet the required standards, the Ministry supports them in accessing markets through the Trade Offices network and national trade promotion programmes. For small and medium-sized enterprises with limited export experience, they need training support to understand market information and comply with rules of origin in free trade agreements. The Ministry is also negotiating additional free trade agreements based on competitive advantages, market openness to Vietnam, and sectors that can benefit businesses,” he stated.

VASEP raises concerns about new US tariff, makes requests to government

VOV.VN - Voicing concerns about the newly unveiled US reciprocal tariff of 46% on Vietnamese exports to this market, the Vietnam Association of Seafood Exporters and Producers (VASEP) has urgently petitioned the Prime Minister and relevant ministries for support.